Answers On Topic: charitable trust
If the accumulation of surplus is not shown as appropriation in Income & expenditure Account, can the benefit of 11(2) be denied. I ran a ICAI Chat GPT query, and got the following cases Gujarat State Board of School Textbooks v. ACIT (Exemptions) [2022] 139 taxmann.com 155 (ITAT Ahmedabad) ITO (E) v. Chamber of Income Tax Consultants [2020] 117 taxmann.com 321 (ITAT Mumbai) Bharat Diamond Bourse v. ADIT (Exemptions) [2021] 127 taxmann.com 54 (ITAT Mumbai) I am unable to find the cases, hene this query
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12A Registered Trust receive Donation from another 12A Registered Trust Whether donation received to Calculate for 85% for Application of Income or can be excluded for calculation.
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can they claim expenses incurred for object against income even if treated as AOP ?
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0X OR IS THERE ANY WAY TO COME OUT OF IT IF A TRUST RECEIVED DONATION PRIOR TO RECEIVING REGISTRATION U/S 80G AND 12 A . HIS TOTAL RECEIPT WAS THUS 724600, MADE EXPENDITURE EXCEPT RS 10640/ IN CHARITABLE PURPOSES WILL IT ATTRACT NECESSARILY 56(2)(x)
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Respected All Members I had a query regarding NGO Registration U/s 12AA/12AB. A NGO has applied for provisional registration U/s 12AA by filing Form 10A in the F/Y 2021-2022. The NGO has been granted provisional Registration for 3 years (upto AY 2023-2024). However, the NGO has not applied for permanent registration till date. The NGO has already started the charitable activities from the F/Y 2021-2022 and has not applied for Permanent registration within 6 months from the date of start of charitable activities. Now, what is the remedy as the time period to file the permanent registration has expired? Please…
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Sir, Is tds under section 194q applicable in case of a buyer whose income is exempt u/s 11?
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I have a charitable trust registered under 12AA Can I utilise my fund to provide food to orphanage
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In case of a charitable society running educational institution, if all the members of the society, retire and new members are introduced the executive body is also replaced by the new members. However, this being a commercial deal, the incoming members desire to pay the outgoing members say by way of gift through account payee cheques. In such a situation can incoming members pay to the outgoing members directly. The outgoing members are in the tax bracket of 30% plus surcharge, then what will be the implication of such transaction, and whether society will lose its character of being a…
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Assessee is charitable trust having object of Education . During the year due to financial difficulties could not make the payment of TDS in time , however before receiving any notice from the department paid the TDS along with the interest . Now PCIT has issued SCN U/SEc. 276B/276BB of the Act. Assessee trust has submitted detailed reply stating the reasons for delay . however the PCIT has decided to initiate the prosecution proceedings . whether he is justified in law ? is there any remedy available ? whether the assessee should filed the WP before the HC? pl guide
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Accumulation of surplus u/s 11(2)